Simple English definitions for legal terms
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Term: REEXCHANGE
Definition: Reexchange refers to the process of recovering the costs incurred due to the non-payment of a bill of exchange in a foreign country. It can also refer to the expenses themselves or a new exchange that takes place to rectify the situation.
Definition: Reexchange refers to:
Examples:
The examples illustrate the second definition of reexchange, which refers to the process of recovering the expenses that resulted from the dishonor of a bill of exchange in a foreign country. In both examples, the bill of exchange was dishonored, and the person had to pay for the reexchange process to recover the expenses.